Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) will conduct a review of its oil and gas operations to evaluate strategic options, including the sale of some or all the assets or the retention and development of them.
In its review, the company will consider the development of the global energy industry as it adopts a cleaner and more sustainable future, according to a press release on Thursday.
The energy company owns a portfolio of upstream and midstream operations in the UK North Sea, the Netherlands, Canada, and the Kurdistan Region of Iraq.
The portfolio includes onshore and offshore exploration; the development and production of crude oil, natural gas, and natural gas liquids; gas storage; and oil and gas processing and transportation.
This review came after the company had launched a new strategy in March, under which the company will focus on expanding its utility business in the UAE and internationally.
In early August, three sources told Reuters that TAQA is nearing a deal to sell some light oil and natural gas-producing assets in Alberta and British Columbia to Blue Sky Resources.
